Global base oils - week of May 15: Cargo flows

·        Cargoes with 8,800t of base oils from Taiwan reach Singapore last week.

·        Singapore takes delivery last week of cargo from Saudi Arabia, likely of bright stock.

·        Taiwan’s 1H May 2023 base oils shipments far exceed month-earlier levels, with light-grade exports outpacing heavy grades.

·        Taiwan’s base oils shipments over past week move to China; shipments in first week of May moved to southeast Asia.

·        Cargo from northeast Asia set to reach Suez Canal in late May, likely bound for Europe.

·        Cargo of premium grades from UAE reaches West-coast India in past week.

·        Large cargo, likely of Group III base oils, loads from UAE in past week. Likely bound for US.

·        Cargo, likely of Group III base oils, loads from UAE in early May, reaches southeast Asia in mid-May, likely bound for China.

·        Cargo, likely of Group III base oils, loads from UAE at end-April, set to reach Europe in 2H May.

·        Another cargo of Group III base oils from UAE reaches US during past week.

·        Cargo, likely of Group III base oils, loads from Bahrain in past week. Destination unclear.

·        Another cargo from Bahrain expected to reach Europe in coming days.

·        Another cargo from Bahrain expected to reach US at start of this week.

·        Cargo of Group I base oils from Saudi Arabia expected to reach Europe in coming week.

·        Regular flow of large shipments from Spain to Netherlands continues in 1H May, even with Group III plant maintenance work in Spain expected to take place in May.

·        Another large cargo scheduled to be loaded from Spain in coming week.

·        End-April loading cargo from Spain, likely of very light grades, likely to reach India by end-May.

·        Cargo, likely of bright stock, loads from Pakistan in past week, bound for Mideast Gulf.

·        Wave of shipments from different regions reach Nigeria in 1H May.

·        Cargo reaches Nigeria that originated from Russia in 2H April.

·        Cargo of Russian origin is first to reach Nigeria in several months as logistical/financial complications slow flows.

·        Cargo reaches Nigeria in 1H May that originated from Asia-Pacific.

·        Cargo reaches Nigeria in 1H May that originated from Italy.

·        Shipments follow arrival in Nigeria of cargo of US origin in early May.

·        Cargo of US origin set to reach Mumbai at start of this week.